Russia economy meltdown as food prices rise by 12.66% and Putin faces abysmal harvest

Putin is battling rising inflation in Russia (Image: Getty)

Vladimir Putin is facing an economic crisis as new official data has revealed that inflation is skyrocketing in Russia. According to a report today by one of the country's news services, TASS, annual inflation, which the Russian President has personally cited as a key issue, amounted to 10.23% in April 2025 against 10.34% in March 2025. In monthly terms, this means consumer prices increased by 0.4%, going by figures from the Federal Statistics Service. Reports add that food products in April increased in price by 0.71% compared to the previous month. In annual terms, this was an increase of 12.66%.

Meanwhile, prices for non-food products decreased by 0.07% in monthly terms, but increased by 5.43% in annual terms. In addition, officials say the cost of services rose by 0.53% compared to March 2025, and by 12.76% year-on-year. It comes as heavy rain and a frosty spring have hit Russian crops this year. The price of potatoes, for instance, has soared by 52% since the start of the year, according to figures.

Hostile weather has reportedly hit Russian farmers (Image: Getty)

Kommersant daily data suggests that the food has tripled in price in the supermarkets compared to last year, reaching a record high of 85.4 roubles (£0.79) per kilogram.

Import duties on potatoes were lifted amid concerns about inflation, however more imports from Egypt have mitigated against the rise.

Moreover, the price of cabbage has increased by 49% since the start of the year, and beetroot is up 40%.

Onions are up by 34%, data suggests.

Russian farmers have reportedly been "seriously damaged" by the hostile weather, and the situation is so dire that it has led officials to consider emergency measures.

Russian news service Interfax reported earlier this month that frosts were observed in a number of regions of the Southern, Central and Volga Federal Districts in late April and early May.

The Union of sugar producers of Russia, Soyuzrossakhar, wrote: "In the future, this may have a negative impact on plant development and harvest.

"Sugar beet crops in the Belgorod and Lipetsk regions suffered the most. According to preliminary estimates, the area of ​​sugar beet replanting may amount to more than 75 thousand hectares."